The infrastructure limitations were why the average was slightly lower. The upgraded capacity including daily storage capacity to 2100bopd and increased trucking meant that production target of 800 bopd was achieved in the second part of the quarter
Highlights include:
'During the second part of the quarter Range reached its production objective of 800 bopd'.
Infrastructure upgrades will help achieve 1000 bopd by year end.
Cash equivalents of $8.2M including recent raise.
Costs lowered by 29%
Rig mobilise to site in Indonesia
Initial oil flow although to early in assessment to estabilish constant flow rates
Sounds like progress to me..!
In the open market i tried to buy £2k £1k £0.5k then £150 when i posted and with ii investing was NT at 12p for all fact. Ofc things may have changed since. Still a big discount to pre £1M raise.
Dilution is rubbish. But if it is to advance projects i.e. as it is here to increase production between 100-200bopd at todays barrel prices then a £1M investment is shrewd imo